According to the Economic and Steel Market Outlook 2018-2019/Q2 2018 Report from the Economic Committee of the European Steel Association (EUROFER), EU automotive output increased by 3.7 percent in 2017 compared to the previous year. First indications for activity in the first quarter of the current year show - as expected - a mild moderation of production growth in the EU.
According to EUROFER, EU car exports increased by 2.3 percent year on year in value in the full year of 2017; this represented a trade volume of 5.6 million units. The largest market was by far the US, followed by China. Total EU commercial vehicle and bus exports fell volume-wise by almost 40 percent year on year in 2017, mainly as a result of weaker sales in the US and Hong Kong. Meanwhile, EU car imports rose by 7.7 percent year on year in 2017, with imports of passenger cars increasing by 5.4 percent.
EUROFER stated that total EU automotive production growth is estimated to have eased to 2.1 percent year on year in the first quarter of this year, on slowing demand dynamics in the domestic market. Output in the UK registered a marked decline. All in all, total auto output in the EU - including parts and components - is expected to rise by 1.8 percent in 2018 and by 0.8 percent in 2019.